US stocks closed lower on Monday, with the Dow Jones Industrial Average dropping 0.30% to 13,553.10, the S&P 500 index falling 0.31% to 1,461.19 and the Nasdaq 100 index declining 0.17% to 3,178.67.

Data on Q2 current-account will be released at 8:30 a.m. ET. A home builders' index for the month of September will be released at 10 a.m. ET.

FedEx is projected to report its Q1 earnings at $1.40 per share on revenue of $10.70 billion. Schiff Nutrition International (NYSE: SHF) is expected to report its Q1 EPS at $0.20 on revenue of $83.60 million.

Manchester United plc (NYSE: MANU) is projected to post a quarterly loss of $0.03 per share on revenue of $120.6 million.